Common use of FLAT RENT Clause in Contracts

FLAT RENT. Instead of an income-based rent, Tenant may choose for each year to pay a “Flat Rent” which is equal to the maximum rent for Tenant’s unit under the Low Income Housing Tax Credit Program. On Tenant’s request, Landlord will provide sufficient information for an informed choice by Tenant. Tenant may switch from a flat rent to an income-based rent during a lease year only in the event of financial hardship, as determined in accordance with written policies of the PHA.

FLAT RENT. Instead of an income-based rent, Tenant may choose for each year to pay a “Flat Rent” which is equal to the maximum rent for Tenant’s unit under the Federal Low Income Housing Tax Credit Program, in accordance with Section 42 of the Internal Revenue Code of 1986, as amended. On TenantUpon Xxxxxx’s request, Landlord Xxxxxxxx will provide sufficient information for an informed choice by TenantXxxxxx. Tenant may switch from a flat rent to an income-based rent during a lease year only in the event of financial hardship, as determined in accordance with written policies of the PHAACC.

FLAT RENT. Instead of an income-based rent, Tenant may choose for each year to pay a “Flat Rent” which is equal to the maximum rent for Tenant’s unit under the Low Income Housing Tax Credit Program. On Tenant’s request, Landlord will provide sufficient information for an informed choice by TenantXxxxxx. Tenant may switch from a flat rent to an income-based rent during a lease year only in the event of financial hardship, as determined in accordance with written policies of the PHA.